and the second is, of course, the remarkable thing going on with energy based around shale, gas and oil. if these two sources of strength persist, you know, is the disappointment about the cliff enough to negate those two things? i suspect the answer is probably not. what it might mean is the difference between an economy that's going in the 2% vicinity of one that could, if a credible deal unleached from the korcht sector and beyond, one that could get back to what most people were -- if not normal, think of the old one in the 3% vicinity. >> jim, to the extent a client were to call you today and say, look, the market is dounl a little bit and who knows if it will be later today. do us this is a buying opportunity, then? >> well, you know, because i look at, obviously, things in such a global context, in any case, because the u.s. market has rallied so much from 2009, and as you guys, i hope, recall, i've been in the bull camp ever since, measures of valuation in particular so-called capital adjusted p/e ratio tight model which is a very conservative approach. the u.s. market isn't che